TOKYO/LONDON/NEW YORK (Financial Times) -- SoftBank is the "Nasdaq whale" that has bought billions of dollars' worth of US equity derivatives in a series of trades that stoked the fevered rally in big tech stocks before a sharp pullback on Thursday and Friday, according to people familiar with the matter.
The Japanese conglomerate had been snapping up options in tech stocks during the past month in huge amounts, fueling the largest ever trading volumes in contracts linked to individual companies, these people said. One banker described it as a "dangerous" bet.
